Philips board backs reappointment of CEO van Houten, CFO Bhattacharya | Personnel Moves – October 29, 2018

Royal Philips (NYSE:PHG) said today that its board of directors is backing the re-appointment of Frans van Houten as its president and CEO and Abhijit Bhattacharya as chief financial officer and board member. CEO van Houten has been at the head of Philips since 2011, while Bhattacharya joined the company in 2015, Amsterdam-based Philips said. During his time in the corner office, van Houten led the initial public offering for Philips Lighting in May 2016 and has increased R&D investments and led acquisitions including Volcano, Spectranetics, Wellcentive and VitalHealth. Board members will officially vote on a new CEO and CFO next May at the company’s annual general meeting of shareholders. “The supervisory board is very pleased that Frans van Houten and Abhijit Bhattacharya remain available as members of the board of management. We recommend their re-appointment in view of the fundamental progress of Philips’ transformation into a solutions-driven health technology company with an improved growth and profitability profile. We are impressed by their continuing drive to further unlock Philips’ potential to grow its market positions and expand margins, as the company aims to make the world healthier and more sustainable through innovation,” Philips supervisory board chair Jeroen van der Veer said in a press release.  Fisher & Paykel taps York as CFO Fisher & Paykel Healthcare (NZE:FPH) said last week that it appointed Lyndal York as its new...
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